Agricultural Economics- ICAR JRF/SRF 2024

• The 7Ps of the Extended Marketing Mix:
• Formulated by Booms and Bitner (1981) for services marketing, the 7Ps comprise:

• Product
• Price
• Place
• Promotion
• People
  6. Process
  7. Physical Evidence
  • 'Purpose' is NOT a component of the formal 7Ps marketing mix framework (it belongs to strategic vision/corporate branding).

• Elements of Agricultural Project Preparation and Analysis:
• In J. Price Gittinger's classical World Bank methodology (Economic Analysis of Agricultural Projects), project appraisal evaluates six core dimensions:

• Technical Aspect: Engineering, agro-climatic, soil, and agronomic feasibility.
• Institutional / Managerial Aspect: Organizational competence and administrative structure.
• Financial Aspect: Financial returns to project beneficiaries and cost-recovery.
• Economic Aspect: Social benefit-cost analysis from society's viewpoint.
• Social Aspect: Income distribution and poverty alleviation.
  6. Environmental Aspect: Ecological sustainability and conservation.
  • Political considerations do not form a formal technical element of project preparation methodology.

• Market Structure-Conduct-Performance (SCP) Paradigm:
• Pioneered by Edward Mason and Joe S. Bain, the SCP paradigm evaluates industrial organization:
• Market Structure: Number and size distribution of buyers/sellers, degree of product differentiation, entry barriers.
• Market Conduct: The patterns of behavior and business strategies that enterprises adopt in adjusting to markets, specifically including price-setting policies, output and market sharing strategies, collusion, and tactics aimed at coercing competitors.
• Market Performance: Economic efficiency, price spreads, profit margins, and progressiveness in resource allocation.

Correct option: (1) Market sharing and price setting policies